Drug Co. Valeant To Snap Up PharmaSwiss For $484M

Law360, New York (February 1, 2011, 4:23 PM EST) -- Canadian drugmaker Valeant Pharmaceuticals International Inc. said Tuesday it would buy privately held Swiss generics and supplement manufacturer PharmaSwiss SA for $484 million, aiming to expand its presence in Central and Eastern Europe.

The transaction, expected to close by the middle of 2011, would leave PharmaSwiss with no debt and more than $52 million in cash on hand, the companies said.

The senior managers of PharmaSwiss, which has operations throughout Central and Eastern Europe including Poland, Hungary, the Czech Republic and Serbia, are expected to continue...
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